Notice

Concise Financial Statement

It’s that time of year again. When the annual audit of the borough is completed, the Borough Code, Section 1059.1, requires the auditors to publish a concise financial statement once in a newspaper of general circulation.

The required information for the advertisement was change by Act 135 of 2018 to cut down on the length. Now, you have the option of using the short form which only requires publication of total assets, total liabilities, total net position at the end of the fiscal year, total revenue, total expenses, and changes in total net position for that fiscal year and a reference to a place within the borough where copies of the financial statements and accompanying audit report may be examined.

Additionally, if you use the short form advertisement, copies of the full financial statements and accompanying audit report must be supplied to the publishing newspaper when the request for publication is submitted. 

For a sample of the short form advertisement, please click here.